Tendency: Uptrend ( )
Structure: Trendline | | Channel
Observation: i. Price action has been contained between upward sloping parallel lines characterized by Higher highs and higher lows to make my bias emphatic.
ii. Major Support @ 139.300 - a structure which has been a strong hold for tendencies since 2016 could open us to a Buy opportunity if price breaks down 140.000level.
Trading plan: BUY confirmation with a minimum potential profit of 250 pips.
Potential Duration: 3 to 8 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.